. . .
The hysteria originates, it seems, with a February Department of Labor and Treasury Department request for comments on how 401(k) plans might be encouraged to offer annuities to 401(k) participants and how those participants might be persuaded to convert their 401(k) assets into a stream of lifetime income-in other words, how to put some of their retirement money into annuities.
Why would Uncle Sam want to encourage such a thing? According to bloggers like this one, the Obama Administration is looking to lock up your money in annuity contracts from which you could not withdraw a penny, so that: a) bureaucrats could use it in a massive Ponzi scheme to pay down the budget deficit; or b) they could invest it in harebrained schemes designed to aid bleeding heart liberals' favorite interest groups, like c) unions; d) illegal aliens; or e) aliens.
. . . .
Zim:
Considering the government created Social Security in
the name of 'RETIREMENT' . . . . and the Ponzi scheme
that created . . (gonna go bankrupt how soon?)
How can anybody with half a brain believe the
government taking control over OUR IRA's, 401K's,
etc. etc. can possibly lead to a 'good thing' ?
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